Florida Senate - 2016                                     SB 542
       
       
        
       By Senator Stargel
       
       
       
       
       
       15-00376A-16                                           2016542__
    1                        A bill to be entitled                      
    2         An act relating to continuing care facilities;
    3         amending s. 400.235, F.S.; providing financial
    4         requirements for certain nursing homes to be
    5         recognized as a Gold Seal Program facility; providing
    6         an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Paragraph (b) of subsection (5) of section
   11  400.235, Florida Statutes, is amended to read:
   12         400.235 Nursing home quality and licensure status; Gold
   13  Seal Program.—
   14         (5) Facilities must meet the following additional criteria
   15  for recognition as a Gold Seal Program facility:
   16         (b) Evidence financial soundness and stability according to
   17  standards adopted by the agency in administrative rule. Such
   18  standards must include, but not be limited to, criteria for the
   19  use of financial statements that are prepared in accordance with
   20  generally accepted accounting principles and that are reviewed
   21  or audited by certified public accountants. A nursing home that
   22  is part of the same corporate entity as a continuing care
   23  facility licensed under chapter 651 which meets the minimum
   24  liquid reserve requirements specified in s. 651.035 satisfies
   25  this requirement if such continuing care facility:
   26         1. and Is accredited by a recognized accrediting
   27  organization under s. 651.028 and rules of the Office of
   28  Insurance Regulation, satisfies this requirement as long as the
   29  accreditation is not provisional; or
   30         2. Demonstrates that the continuing care facility in its
   31  entirety meets the financial standards adopted by the agency.
   32  
   33  For purposes of this paragraph, facilities operated by a federal
   34  or state agency are deemed to be financially stable for purposes
   35  of applying for the Gold Seal.
   36  
   37  A facility assigned a conditional licensure status may not
   38  qualify for consideration for the Gold Seal Program until after
   39  it has operated for 30 months with no class I or class II
   40  deficiencies and has completed a regularly scheduled relicensure
   41  survey.
   42         Section 2. This act shall take effect upon becoming a law.